What is the client retention rate expected for Spear’s existing client base after moving to an independent firm under Osaic’s umbrella?

The filing notes that Joelle Spear’s transition to an independent practice under Osaic is expected to retain about 90 % of her existing client base. Osaic’s “umbrella” model typically preserves the advisor‑client relationship, and the high‑retention estimate reflects both the continuity of service for Spear’s clients and the added operational and technology resources Osaic provides.

From a trading perspective, a 90 % retention rate means the $170 million in assets under administration is likely to stay largely intact, supporting OSAIC’s earnings outlook and reinforcing the positive market sentiment (sentiment score 40) surrounding the deal. Assuming the transition proceeds smoothly, the market can price in a modest upside for OSAIC shares on the back of the added AUA and the low client‑attrition risk. Traders may consider a buy‑on‑dip or short‑term bullish position if the stock pulls back on the news, while keeping an eye on any updates about the actual retention performance in the coming weeks.